Debt management may help people meet daily living costs
Debt management may help people meet daily living costs
- Tuesday, 26 January 2010Britons may have to engage in
debt management plans as the cost of daily living continues to put a strain on household budgets.
According to the Daily Mail Cost of Living Index, a shopping basket of 37 food items came in at £53.63 - a 7.5 per cent increase on the £49.85 figure from the same time last year.
For a typical family who spends £100 a week on food, this would equate to having to find an extra £390 over a year, the news provider reports.
The increase has been partly attributed to the recent return of VAT to 17.5 per cent.
Meanwhile new research has revealed that millions of UK people are becoming reliant on their credit cards to fund daily living costs.
The annual Post Office Consumer Credit Report found that 38 per cent of adults intend to use their credit card in January for daily purchases such as grocery shopping - an increase of eight per cent from the same time last year.
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